The hourly ES 24 hour S&P fugutures chart made a picture perfect bottom over 5 days through yesterday, and then proceeded to rally, as we might expect. But the rally is punk. It’s stuck in the mud. It needs to clear 3950, or else consider it dead!
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Lest there be any doubt about whether we’ve been in a bear market since January, this morning’s action should disabuse those of that notion. Especially the boobs waiting for a CNBC declared bear market on the basis of a 20% decline.
Whether or no…
This morning I went to the Office for Foreigners here in Nice and had my fourth vaccination, courtesy of the gouvernament. I would like to thank the French people for their generosity. Of course I will be contributing to the tax system also, as of this…
They don’t come any more perfect than this.
An hourly close on the ES 24 hour S&P fuguetures would be bad news, bears. The 5 day cycle projection is already 4125. A breakout from this obvious base pattern implies a measured move target of 428…
Running late today so I’ll keep this short. We have an uptrend channel on the hourly ES S&P 500 24 hour fuguetures chart. As of 8 AM in NY, trend support is at 3990. As long as they hold above that, there’s a shot at a higher high than Friday’s. It…
The 24 hour ES S&P 500 fugutures are maintaining the dead cat bounce that began late yesterday. The hourly chart shows that the short covering has carried the price to downtrend resistance at 3975 as of 7:15 AM in New York. The 2-3 day cycle projec…
Crypto is giving us a glimpse of what’s ahead for traditional investment classes.
And to think that back on January 3 when Tom Bodrovics posted his interview of me (recorded 12/28), they laughed at me for recommending cash as the least terrible i…
A bottom. Not THE bottom.
But how big a bottom? Meh, not that big. If the ES 24 hour S&P futures futures clear 4050, then we’d be looking at 4070 pdq. There are three resistance lines converging around 4070-75, so the odds don’t favor clearin…
Yesterday, May 9, 2022, a day that will live in infamy, the stock market broke down from a major top that has been 10 months in the making.
This will get everyone beared up for the longer term, as it should. However, we here at the Stool foc…
Chart traders like round numbers, and they’ll set their algos accordingly. Shorts will set orders to cover at ES 4000, and bulls would like to buy there. So look for 4001 on the ES 24 hour S&P futures, and around that number on the cash. 😉
In …
